Gang Yu → 111, Inc. YI

On September 16, 2026, Gang Yu, Junling Liu, Sunny Bay Global Limited and Huadeng Tech BioArray Ventures Ltd (collectively, the Consortium) entered into a consortium agreement (the Consortium Agreement), pursuant to which the Consortium will cooperate in good faith in connection with an acquisition transaction (Proposed Transaction) with respect to the Issuer as contemplated by the Proposal (as defined below). The Consortium Agreement provides, among others, for (i) cooperation in negotiation with the Issuer with respect to the Proposed Transaction; (ii) cooperation in engaging advisors; and (iii) cooperation in entry into definitive documentation with respect to the Proposed Transaction. During the period continuing for six months after signing of the Consortium Agreement, subject to extension or early termination on the occurrence of certain termination events, members of the Consortium have agreed to work exclusively with each other with respect to the Proposed Transaction (including to vote, or cause to be voted, at shareholders' meetings against any competing transaction and in favor of the Proposed Transaction) and not to (a) make a competing proposal or (b) acquire or dispose of any securities of the Issuer. On the same date, Gang Yu, Junling Liu and Huadeng Tech BioArray Ventures Ltd submitted a non-binding proposal (the Proposal) to the Issuer's board of directors related to the proposed acquisition of all Class A ordinary shares (including Class A ordinary shares represented by ADSs) not beneficially owned by the Consortium members in a going-private transaction at a purchase price of US$0.226 per Class A ordinary share or US$4.52 per ADS. The Proposed Transaction is subject to a number of conditions, including the negotiation and execution of definitive documents and other related agreements mutually acceptable in form and substance to the Issuer and the Consortium. Neither the Issuer nor any member of the Consortium is obligated to complete the Proposed Transaction, and a binding commitment will result only from execution of definitive documents and will then be on the terms provided in such documentation. If the Proposed Transaction is completed, the Issuer's ADSs would become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934 and would be delisted from The Nasdaq Global Market. References to the Consortium Agreement and the Proposal herein are qualified in their entirety by reference to Exhibits 99.1 and 99.2, which are incorporated herein by reference. Except as indicated above, the Reporting Persons have no plans or proposals relating to any of the actions specified in paragraphs (a) through (j) of Item 4 of Schedule 13D.